Yahoo posts $21.6mn loss for second quarter

Yahoo has posted a net loss of $21.6 million in the three months to June 30, but chief executive Marissa Mayer said the online search and advertising company had made “great progress”. In 2014, it had posted a $269.7 million profit in the same period.

Meanwhile, Yahoo’s revenues in the second quarter increased by 15% to $1.04 billion. Under Mayer’s leadership, the firm is moving away from ads aimed at desktop computing to mobile and video advertisements.